Wound Care Biologics Market Trends

Growth Drivers

• Recent advances in wound care management - Recent developments in advanced wound care technology include stem cell therapy, bioengineered skin grafts, nanotherapeutics, and 3D bioprinting-based solutions. They reduce recovery time and post-operative contracture, to facilitate rapid re-epithelialization, revascularization, and healing of wound beds. Bioprinting, often referred as ‘Healthcare’s next revolution’ has a widespread application in drug development, regenerative medicine, artificial organs, and wound healing. Similar to 3D printing, bioprinting uses biomaterials, which usually contain living cells.
• Rising aging population - Older people are more prone to chronic wounds due to compromised immune systems, reduced mobility, and comorbidities. Mature skin is susceptible to deep cuts and bruises due to intrinsic factors such as poor collagen synthesis and rapid protein degeneration. According to the World Health Organization (WHO) 2022 report, by 2030 1 in 6 people will be 60 years and older.  Moreover, it has been estimated that the elderly population in the United States accounts for nearly 80% of all chronic wound cases. The rising geriatric population is projected to drive market growth in the forecast period.
• Increasing number of road accidents - Road traffic accidents (RTA) are one of the leading causes of life-threatening injuries and mortality. It has factored in the need for trauma care and rehabilitation for treating open wounds, which is projected to fuel the global wound care biologics market. A 2023 World Health Organization (WHO) report suggests that every year, traffic accidents claim the lives of almost 1.19 million individuals.

Challenges

• Limited accessibility and affordability - One of the major restraining factors for the wound care biologics market growth is the high cost of the products, making them unaffordable for many patients. This limits their penetration into new markets, particularly in low-income regions.
• Stringent regulatory framework - Wound care products, including topical ointments and dressings, are mandated to comply with the regulations set by regulatory bodies and agencies. This restricts the ability of new players to enter the market due to lack of financial resources and research and development capabilities. The stringent regulations may delay their commercial release, thereby adding to development costs and creating barriers to market expansion.